Honeywell CEO Says Lack Of Short Cycle Improvement And Some Discrete Supply Chain Disruption In September In Aerospace Caused Us To Rebase Our Expectations For The Year; This Quarter We Also Made The Decision To Re-Classify The Personal Protective Equipment Or PPE business As Asset Health For Sale; We Were Also Impacted By Some Discrete Manufacturing Disruptions In September Including Hurricane Helene; Took A Charge In The Quarter As A Result Of Our Decision To Exit The PPE Business In Industrial Automation
Portfolio Pulse from Benzinga Newsdesk
Honeywell's CEO announced a revision of expectations for the year due to supply chain disruptions in aerospace and manufacturing issues, including Hurricane Helene. The company is reclassifying its PPE business as an asset for sale and took a charge for exiting the PPE business in industrial automation.
October 24, 2024 | 12:46 pm
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Honeywell revised its yearly expectations due to supply chain disruptions and manufacturing issues. The PPE business is reclassified as an asset for sale, impacting industrial automation.
The announcement of supply chain disruptions and the reclassification of the PPE business as an asset for sale are likely to negatively impact investor sentiment. The decision to exit the PPE business in industrial automation and the charge taken in the quarter further contribute to a negative short-term outlook.
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